GST rate rationalisation: Govt unlikely to bring 35% slab, may cut taxes on essentials: Sources

With all eyes on the GST rate rationalisation exercise, which aims to ease the tax burden on the common man, CNBC-TV18 has learnt from sources that the government is not in favour of introducing a new "special rate" slab of 35%, as proposed by the Group of Ministers (GoM) on GST rates. The GoM had proposed a 35% GST rate for tobacco and aerated beverages, sources said. Currently, most tobacco prod…